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WEICHERT TO HOLD SEALED BID AUCTION

 MORRIS PLAINS, N.J., July 12 /PRNewswire/ -- Weichert REO Services, a division of Weichert, Realtors, will conduct a Sealed Bid Auction of 30 bank-owned properties in New Jersey on Monday, July 26.
 The properties, located throughout the state, include single-family homes, condominiums, and multi-family homes. Frank Palestrini, director of Weichert REO Services, will coordinate the Sealed Bid Auction.
 "The homes that will be included in this auction represent some of the most desirable bank-owned properties in the state," Palestrini said. "We expect first-time buyers, move-up buyers, and investors to find these homes of interest."
 Weichert, Realtors will hold an Open House on many of the properties included in the Sealed Bid Auction on Sunday, July 18 and again on Sunday, July 25. All bidders must submit written offers through a sales associate by Monday, July 26. The bids will be unsealed and reviewed by the bank to determine the highest offer and best terms and which offers the bank will accept.
 All bidders must be pre-qualified in advance by a mortgage representative or present proof of funds for a cash transaction.
 For more information about the properties to be included in the auction, call any Weichert sales office in New Jersey.
 -0- 7/12/93
 /CONTACT: Denise Dickison Smith of Weichert, Realtors, 201-397-3545/


CO: Weichert, Realtors ST: New Jersey IN: SU: RLE

WB-MG -- NY065 -- 0509 07/12/93 14:45 EDT
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Date:Jul 12, 1993
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